There are questions of possible further sanctions against China by the United States to implement the message of relinquishing Hong Kong as well as other matters concerning the Western countries.It is now being rumoured that the President of the United States and his Secretaries are devising one of the most powerful sanctions up to date, which is banning travel into the US by the members of the Chinese Communist Party and their subsidiary families.
This is expected to be a shocking blow, as many entrepreneurs and CEOs in China have their loyalties to the Party.90 million party members will also be inevitably affected, a coup de grace on Trump’s part.
Alibaba (BABA) founder Jack Ma, Dalian Wanda Group founder Wang Jianlin and BYD founder Wang Chuanfu are one of the few CEOs who have their names on the list.“China’s rich and powerful are almost all party members,” said Willy Lam, adjunct professor at the Center for China Studies at the Chinese University of Hong Kong.
Their reasons for joining is not to just appease the ruling party members in the government bureaucracy, but because being a party member endows financial eases as wells as privileges in dealing with state-run establishments.
Even personnel not officially identifying as Chinese Communist may be afflicted by this measure, depending upon the tenacity of the snare they are ready to throw in.
Tencent (TCEHY) founder Pony Ma and Xiaomi chairman Lei Jun, for example, are both members of the National People’s Congress (NPC), the country’s top legislative body.Baidu (BIDU) founder Robin Li is a member of the Chinese People’s Political Consultative Conference (CPPCC), a top political advisory body.
There are more than 30 million private companies in China.Of 8,000 entrepreneurs who responded to a government survey published last year, more than half said they were members of the Chinese Communist Party.
A quarter of the total respondents were members of the NPC, while roughly a third were members of the CPPCC.
It’s also common for private enterprises to work with the Communist Party. Last year, for example, China sent officials into Alibaba, automaker Geely (GELYF) and dozens of other companies as part of a plan to bolster high-tech manufacturing.
TikTok owner ByteDance, meanwhile, has its own Communist Party committee, led by Zhang Fuping.
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